Michael Bowe Quoted in Bloomberg Article on the Growth of Litigation Funding

Michael Bowe, co-chair of Brown Rudnick's Litigation and Dispute Resolution practice, was quoted in "Big Law Grows Litigation Finance to Cut Risk, Please Clients," published by Bloomberg on September 5, 2024. Bowe, who has worked with many of the top litigation funders, noted that "[c]lients are becoming more sophisticated and they're demanding better deals," and "there's pressure on bigger firms to compete." He also emphasized that firms that use litigation finance "must be prepared for the large amount of time it takes to get funding-at times several months-with a low probability of being approved," pointing out that the time to closing can be off-putting to certain clients.

Of interest, Bowe described how he has been looking to the insurance industry to fund cases, which can be less cumbersome and expensive than traditional litigation finance: "Over time this industry is going to continue to become more and more efficient and have more and more products and be much more sort of consumer friendly to law firms," he said. "That's very exciting."

Read the full article here.